QNB Corp. Increases Dividend

Rhea-AI Summary

QNB Corp. (OTC: QNBC) declared a quarterly cash dividend of $0.35 per share, marking a 2.9% increase from the previous quarter. The dividend corresponds to a yield of 4.2% based on the closing price as of February 22, 2021. Shareholders of record by March 12, 2021, will receive the payment on March 26, 2021. CEO David W. Freeman attributed the dividend increase to the company's strong financial performance and well-capitalized position, allowing for an uninterrupted history of quarterly dividends.

Positive

• Quarterly cash dividend increased by 2.9%.
• Yield of 4.2% based on recent closing price.
• Continued solid financial performance noted by CEO.
• Well-capitalized position supports uninterrupted dividend history.

Negative

• None.

QUAKERTOWN, PA, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of QNB Corp. (OTC Bulletin Board: QNBC), parent company of QNB Bank, at a regular meeting on February 23, 2021 declared a quarterly cash dividend of $0.35 per share. The amount represents a 2.9% increase from the prior quarter. Based upon the closing price of a share as of close of business February 22, 2021, this represents a yield of 4.2%. The cash dividend is payable on March 26, 2021 to shareholders of record March 12, 2021.

“As a result of the continued solid financial performance of QNB Corp., the Board of Directors is pleased to be able to increase the dividend by 2.9%. As a result of its well capitalized position, QNB Corp. is able to continue its uninterrupted history of quarterly dividends,” said David W. Freeman, President and Chief Executive Officer.

QNB Corp. offers commercial and retail banking services through the twelve banking offices of its subsidiary, QNB Bank. QNB Corp.’s stock is traded in the over-the-counter market under the symbol “QNBC.” For more information, visit QNB’s web site at QNBbank.com.

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CONTACT: David W. Freeman – President/Chief Executive Officer

                215-538-5600 x5619

                dfreeman@qnbbank.com

FAQ

What is the dividend amount declared by QNB Corp. for Q1 2021?

QNB Corp. declared a dividend of $0.35 per share for Q1 2021.

When is the QNB Corp. dividend payable?

The dividend is payable on March 26, 2021.

What is the record date for QNB Corp.'s dividend payment?

The record date for the dividend payment is March 12, 2021.

What is the reason for the dividend increase announced by QNB Corp.?

The dividend increase is attributed to the company's solid financial performance and well-capitalized position.

What is the stock symbol for QNB Corp.?

The stock symbol for QNB Corp. is QNBC.